GIGFX Technical Analysis Report For Majors (Updated Daily) - page 16
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EUR/USD
During yesterday trades the EUR/USD pair formed a new bottom at the support level 1.4015 to near from forming the Gartley harmonic pattern which is moving now inside the last CD pattern's wave which is targeting the resistance level 1.4460 to end the pattern at this level but the resistance level 1.4280 which represents the pattern's B point with a good close must be broken before achieving this scenario.
So it is not recommended to have bullish positions until the pair break the resistance level 1.4280 with stability above it.
This scenario depends on the support level 1.4015 stability.
Res: 1.4225 1.4295 1.4373
Pivot: 1.4147
Sup: 1.4077 1.3999 1.3929
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EUR/USD
The pair succeeded to reach the resistance level 1.4281 during the last trades and also to form a new bottom at the support level 1.4015 forming gartley harmonic pattern which is moving in the range of the last wave CD that targets the resistance level 1.4460 to end the pattern at this level but under the condition of breaking the resistance level 1.4281 which represents the point B above it, it is expected for the near-term trades that the pair will target the resistance level 1.4380 before reaching the resistance level 1.4460 but if the level 1.4281 held it is expected to decline targeting to re-test the support level 1.4110.
Res: 1.4257 1.4300 1.4362
Pivot: 1.4195
Sup: 1.4152 1.4090 1.4047
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EUR/USD
The bullish direction is still dominant on EUR/USD pair for the short-term trades, the resistance level 1.4400 which represents 76.4% Fibonacci retracement correction level for the medium-term last bearish wave is still stable against testing the pair for it, reflecting the pair down is noticed expecting for it a further corrective drop during the intraday trades targeting the support level 1.4295 which represents 61.8% from the same previous mentioned Fibonacci retracement correction levels before completing the short-term bullish direction.
So it's recommended, not to enter any buying operations for the EUR/USD pair but only in case of breaking the resistance level 1.4400 which with breaking it and having a good close above it, the resistance level 1.4520 will be targeted.
Res: 1.4426 1.4489 1.4540
Pivot:1.4375
Sup: 1.4312 1.4261 1.4198
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EUR/USD
The EUR/USD broke the resistance level 1.4400 in today's trades which represents 76.4% Fibonacci retracement correction level for the last bearish wave for the medium-term as what was mentioned yesterday which pushed the pair to reach the resistance level 1.4520 which is it's first target for this breaking, so a further rise is expected during the intraday trades targeting the resistance level 1.4575 and this level is the medium-term bearish wave beginning point.
This scenario depends on the stability of the support level 1.4400.
Res: 1.4420 1.4464 1.4512
Pivot: 1.4372
Sup: 1.4328 1.4280 1.4236
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EUR/USD
The EUR/USD declined yesterday breaking the formed bullish wedge pattern's lower border which reverses the direction, it's observed now that the pair is trying to retest the resistance level 1.4400, a further drop is expected during the intraday trades targeting the support level 1.4295.
In order to confirm this information, the resistance level 1.4400 must be stable.
Res: 1.4490 1.4612 1.4687
Pivot: 1.4415
Sup: 1.4293 1.4218 1.4096
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GIGFX added 3 new currencies to its major currencies basket
Saudi Riyal... Emirates Dirham... Egyptian Pound
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EUR/USD
The formed bullish wedge pattern is continuing pressing on the EUR/USD pair which leads it to continue declining, it's trading now below the support level 1.4295 which coincides with 61.8% Fibonacci retracement correction level for the last medium-term bearish wave if the pair is able to close below this level so a further drop is expected for the pair to target the support level 1.4120 which represents the formed pattern target and also which coincides with 38.2% from the same previous mentioned Fibonacci retracement correction levels.
In order to confirm this information, the resistance level 1.4400 must be stabile.
Res: 1.4402 1.4474 1.4548
Pivot: 1.4328
Sup: 1.4256 1.4182 1.4110
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GIGFX added 3 new currencies to its major currencies basket
Saudi Riyal... Emirates Dirham... Egyptian Pound
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EUR/USD
The EUR/USD pair was able to stop it's declining wave for the previous bearish move which led it to trade below the level 1.4270 which represents 38.2% Fibonacci retracement correction level for the bullish move (from 1.3838 to 1.4573) without closing below this level, to rise from it facing the level 1.4372 representing by 23.6% correction. in case of the pair's stability above this level, it's expected that the pair will continue rising to retest the level 1.4573 then 1.4650, but the pair's stability below the level 1.4372 will push it down to retest the support level 1.4270.
Res: 1.4454 1.4524 1.4636
Pivot: 1.4342
Sup: 1.4272 1.4160 1.4090
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EUR/USD
The formed bullish wedge pattern is continuing pressuring on the EUR/USD pair which gives it the chance to continue declining; the pair is trading now below the support level 1.4295 which coincides with 61.8% Fibonacci retracement correction level for the medium-term last bearish wave, so a further drop is expected for the pair targeting the support level 1.4120 which represents the formed pattern target price and also coincides with 38.2% from the same previous mentioned Fibonacci retracement correction levels.
This scenario depends on the stability of the resistance level 1.4295.
Res: 1.4406 1.4562 1.4672
Pivot: 1.4296
Sup: 1.4140 1.4030 1.3874
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EUR/USD
The formed bullish wedge pattern is continuing pressuring on the EUR/USD pair which gave it the chance to continue declining; the pair is trading now below the support level 1.4295 which coincides with 61.8% Fibonacci retracement correction level for the medium-term last bearish wave, so a further drop is expected for the pair targeting the support level 1.4120 which represents the formed pattern target and also coincides with 38.2% from the same previous mentioned Fibonacci retracement correction levels with the probability of retesting the resistance level 1.4295.
This scenario depends on the stability of the resistance level 1.4295.
Res: 1.4273 1.4343 1.4404
Pivot: 1.4212
Sup: 1.4142 1.4081 1.4011
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EUR/USD
During yesterday trades, EUR/USD pair was able to achieve some gains by reaching the resistance level 1.4370 which represents 23.6% Fibonacci retracement correction level for the last medium-term bullish wave which also coincides with testing the bearish channel's top border, the pair is moving inside a bearish channel during the short-term trades so it's expected a probability on reversing the pair down targeting the support level 1.4190 but firstly it must break the support level 1.4270 with a good close below it.
This scenario depend son the stability of the resistance level 1.4370.
Res: 1.4396 1.4470 1.4596
Pivot: 1.4270
Sup: 1.4196 1.4070 1.3996
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